Secretary's Department
UBL/BOD-257/PSX/Results/25
15 October 2025
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Dear Sir,
Financial Results for the 3rd Quarter Ended 30 September 2025
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 257th meeting held on Wednesday, 15 October 2025 at Islamabad at 10:00 a.m. inter-alia recommended the following:
(i) CASH DIVIDEND
An Interim Cash Dividend for the year Quarter ended 30 September 2025 at Rs.8/- per share i.e.160%. This is addition to interim Dividend already paid at Rs.13.5/- per share i.e.270%
(ii) BONUS SHARES
--- NIL ---
(iii) RIGHT SHARES
--- NIL ---
(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION
--- NIL ---
(v) ANY OTHER PRICE-SENSITIVE INFORMATION
--- NIL ---
The above entitlement of Dividend will be paid to the shareholders whose names will appear in the Register of Members (with their IBAN details) on 24 October 2025.
The Share Transfer Books of UBL will remain closed from Monday, 27 October 2025 to Wednesday, 29 October 2025 (both days inclusive). Transfers received at the office of our Share Registrar. M/s. THK Associates (Pvt) Limited. Plot No.32-C, Jami Commercial Street-2 D.H.A., Phase-VII, Karachi-75400 at the close of business on Friday, 24 October 2025 will be treated in time for the purpose of payment of interim cash dividend.
Following Statements are attached:
Annexure-A (Unconsolidated)
1. Standalone Statements of Financial Position
2. Standalone Statements of Profit and Loss
3. Standalone Statement of Changes in Equity
4. Standalone Statement of Cash Flows
Annexure-B (Consolidated)
1. Consolidated Statements of Financial Position
2. Consolidated Statements of Profit and Loss
3. Consolidated Statement of Changes in Equity
4. Consolidated Statement of Cash Flows
The Quarterly financial statements (Quarterly Report) of the Bank for the 3rd Quarter ended 30 September 2025 will be transmitted through PUCARS separately, within stipulated time.
Yours faithfully,
Sd/-
Aqeel Ahmed Nasir
Company Secretary & Chief Legal Counsel
C.C. to:
1) London Stock Exchange.
2) The Commissioner, Enforcement & Monitoring Division, Securities and Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Islamabad
Annexure A-1
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT SEPTEMBER 30, 2025
(Un-audited)
(Audited)
September 30, 2025
December 31, 2024
-------------- (Rupees in '000) -----------
ASSETS
Cash and balances with treasury banks
531,013,804
309,745,911
Balances with other banks
70,735,449
59,968,246
Lendings to financial institutions
139,355,737
18,492,483
Investments
8,818,515,414
5,886,894,503
Advances
1,103,393,866
1,443,481,944
Property and equipment
110,871,377
85,246,731
Right-of-use assets
29,703,543
9,896,084
Intangible assets
63,889,434
2,481,475
Deferred tax assets
-
-
Other assets
406,662,008
246,924,757
11,274,140,632
8,063,132,134
LIABILITIES
Bills payable
32,655,154
44,221,818
Borrowings
5,724,114,144
4,855,373,516
Deposits and other accounts
4,768,789,701
2,640,211,489
Lease liabilities
32,450,739
12,008,797
Subordinated debt
10,000,000
10,000,000
Deferred tax liabilities
79,656,081
38,959,061
Other liabilities
182,165,257
146,135,202
10,829,831,076
7,746,909,883
NET ASSETS
444,309,556
316,222,251
REPRESENTED BY:
Share capital
12,521,239
12,241,797
Reserves
136,117,024
114,734,831
Surplus on revaluation of assets
139,664,851
77,289,805
Unappropriated profit
156,006,442
111,955,818
444,309,556
316,222,251
CONTINGENCIES AND COMMITMENTS
ANNEXURE - A-2
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
July - September 2025
July - September 2024
January - September 2025
January - September 2024
----------------------------- (Rupees in '000) ----------------------------------
Mark-up / return / interest earned
297,224,588
310,741,852
861,218,417
825,895,798
Mark-up / return / interest expensed
205,250,937
259,148,402
593,822,518
720,664,403
Net mark-up / interest income
91,973,651
51,593,450
267,395,899
105,231,395
Non mark-up / interest income
Fee and commission income
6,754,687
5,844,125
21,259,706
15,893,508
Dividend income
298,810
266,556
1,732,330
1,189,692
Foreign exchange income
4,836,577
3,294,805
12,280,199
9,662,474
Loss from derivatives
(1,313)
(16,176)
(1,255,891)
(41,021)
Gain on securities - net
902,623
5,930,797
9,049,933
24,074,130
Capital gain on derecognition of financial assets measured at amortised cost
-
-
-
2,894,427
Other income
252,267
7,260,557
740,231
7,618,066
Total non mark-up / interest income
13,043,651
22,580,664
43,806,508
61,291,276
Total Income
105,017,302
74,174,114
311,202,407
166,522,671
Non mark-up / Interest expenses
Operating expenses
30,372,033
22,201,169
88,858,478
57,961,029
Workers' Welfare Fund
1,450,463
982,752
4,365,567
2,215,724
Other charges
43,321
155
45,815
32,966
Total non mark-up / interest expenses
31,865,817
23,184,076
93,269,860
60,209,719
Profit before credit loss allowance
73,151,485
50,990,038
217,932,547
106,312,952
Credit loss allowance and write-offs - net
(822,101)
893,529
(4,711,348)
(1,473,236)
Profit before taxation
73,973,586
50,096,509
222,643,895
107,786,188
Taxation
39,270,818
24,556,195
124,150,535
52,800,301
Profit after taxation
34,702,768
25,540,314
98,493,360
54,985,887
------------------------------------- (Rupees) ---------------------------------------
Earnings per share - basic and diluted - Restated
13.86
10.43
39.55
22.46
ANNEXURE A-3 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
Share capital
Share Premium
Capital Reserve - Exchange Translation
Statutory
reserve
Surplus / (Deficit) on revaluation
Unappropriated Profit
Total
Investments
Property and Equipment
Non-banking Assets
---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------
Balance as at January 01, 2024 - as restated
12,241,797
-
60,922,855
46,878,123
780,037
38,211,793
-
89,138,112
248,172,717
Total comprehensive income for the nine months ended September 30, 2024
Profit after taxation for the nine months ended September 30, 2024
-
-
-
-
-
-
-
54,985,887
54,985,887
Other comprehensive income - net of tax
-
-
(1,441,633)
-
51,676,969
5,457
-
-
50,240,793
Total comprehensive income for the nine months ended September 30, 2024
-
-
(1,441,633)
-
51,676,969
5,457
-
54,985,887
105,226,680
Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax
-
-
-
-
-
-
-
-
-
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax
-
-
-
-
-
(43,869)
-
43,869
-
Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax
-
-
-
-
64,182
-
-
(64,182)
-
Transfer to statutory reserve
-
-
-
5,498,589
-
-
-
(5,498,589)
-
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2023 declared subsequent to the year end at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
Interim cash dividend - March 31, 2024 declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
Interim cash dividend - June 30, 2024 declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
(40,397,931)
(40,397,931)
Balance as at September 30, 2024 (Un-audited)
12,241,797
-
59,481,222
52,376,712
52,521,188
38,173,381
-
98,207,166
313,001,466
Total comprehensive income for three months ended December 31, 2024
Profit after taxation for the three months ended December 31, 2024
-
-
-
-
-
-
-
25,541,647
25,541,647
Other comprehensive income - net of tax
-
-
322,732
-
(13,670,045)
313,782
1,146
4,177,500
(8,854,885)
Total comprehensive income for the three months ended December 31, 2024
-
-
322,732
-
(13,670,045)
313,782
1,146
29,719,147
16,686,762
Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax
-
-
-
-
-
-
-
-
-
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax
-
-
-
-
-
(33,714)
-
33,714
-
Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax
-
-
-
-
(15,933)
-
-
15,933
-
Transfer to statutory reserve
-
-
-
2,554,165
-
-
-
(2,554,165)
-
Continued on next page
ANNEXURE A-3 (2 of 2)
UNCONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
Share capital
Share Premium
Capital Reserve - Exchange Translation
Statutory
reserve
Surplus / (Deficit) on revaluation
Unappropriated Profit
Total
Investments
Property and Equipment
Non-banking Assets
---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------
Transactions with owners, recorded directly in equity
Interim cash dividend - September 30, 2024
declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
Balance as at December 31, 2024 (Audited)
12,241,797
-
59,803,954
54,930,877
38,835,210
38,453,449
1,146
111,955,818
316,222,251
Effect of reclassification on adoption of IFRS 9 (net of tax)
-
-
-
-
1,355,745
-
-
-
1,355,745
Balance as at January 01, 2025 - as restated
12,241,797
-
59,803,954
54,930,877
40,190,955
38,453,449
1,146
111,955,818
317,577,996
Total comprehensive income for the nine months ended
September 30, 2025
Profit after taxation for the nine months ended September 30, 2025
-
-
-
-
-
-
-
98,493,360
98,493,360
Other comprehensive income - net of tax
-
-
1,059,096
-
63,699,225
-
-
-
64,758,321
Total comprehensive income for the nine months ended September 30, 2025
-
-
1,059,096
-
63,699,225
-
-
98,493,360
163,251,681
Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax
-
-
-
-
-
-
-
-
-
Transfer of incremental depreciation from surplus on revaluation of property and equipment to unappropriated profit - net of tax
-
-
-
-
-
(52,082)
-
52,082
-
Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax
-
-
-
-
(2,627,840)
-
-
2,627,840
-
Transfer to statutory reserve
-
-
-
9,849,336
-
-
-
(9,849,336)
-
Shares issued under amalgamation
279,442
10,473,761
-
-
-
-
-
-
10,753,203
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2024 declared subsequent to the year end at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,773,363)
(13,773,363)
Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share
-
-
-
-
-
-
-
(20,033,982)
(20,033,982)
-
-
-
-
-
-
-
(47,273,322)
(47,273,322)
Balance as at September 30, 2025 (Un-audited)
12,521,239
10,473,761
60,863,050
64,780,213
101,262,340
38,401,365
1,146
156,006,442
444,309,556
ANNEXURE A-4 (1 of 2)
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
January - September 2025
January - September 2024
-------------- (Rupees in '000) --------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation
222,643,895
107,786,188
Less: Dividend income
1,732,330
1,189,692
220,911,565
106,596,496
Adjustments:
Depreciation on property and equipment
6,528,435
4,053,854
Depreciation on Islamic financing against leased assets (Ijarah)
102,050
58,652
Depreciation on right-of-use assets
3,014,991
1,782,454
Depreciation on non-banking assets acquired in satisfaction of claims
29,853
2,420
Amortisation
833,959
716,175
Workers' Welfare Fund - charge
4,365,567
2,215,724
Provision for retirement benefits
1,364,137
1,145,073
Provision for compensated absences
109,575
119,882
Credit loss allowance against loans and advances - net
(4,534,504)
(1,142,648)
Credit loss allowance against off - balance sheet obligations - net
198,026
46,676
Credit loss allowance for diminution in value of investments - net
65,525
(250,046)
Interest expense on lease liability against right-of-use assets
2,452,502
1,077,013
Loss / (gain) on sale of Ijarah assets - net
234
(533)
Gain on sale of property and equipment - net
(88,897)
(148,042)
Gain on sale of subsidiary
-
(7,083,501)
Bad debts written-off directly
58,036
36,211
Unrealised gain on revaluation of investments classified as FVTPL
(42,667)
(261,073)
Credit loss allowance against other assets
45,220
(11,149)
Other credit loss allowance / write-offs
183,670
161,798
14,685,712
2,518,940
235,597,277
109,115,436
(Increase) / Decrease in operating assets
Lendings to financial institutions
(120,863,254)
33,371,115
Securities classified as FVTPL
(208,564,550)
2,936,771
Advances
345,360,053
(5,957,740)
Other assets (excluding advance taxation)
(219,007,360)
(34,308,513)
(203,075,111)
(3,958,367)
Increase / (decrease) in operating liabilities
Bills payable
(11,566,664)
2,187,803
Borrowings
868,740,628
1,488,484,808
Deposits and other accounts
2,128,578,212
487,455,205
Other liabilities
18,429,781
38,602,636
3,004,181,957
2,016,730,452
3,036,704,123
2,121,887,521
Receipts on account of staff retirement benefits
628,616
2,808,765
Income taxes paid
(83,447,204)
(43,115,580)
Net cash flow generated from operating activities
2,953,885,535
2,081,580,706
Continued on next page
January - September 2025
January - September 2024
-------------- (Rupees in '000) --------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI
(2,377,825,293)
(1,991,646,143)
Net investments in amortized cost securities
(213,820,407)
38,842,561
Net investments in subsidiaries
-
1,855,222
Net investments in associates
9,910
-
Net cash inflow on amalgamation
15,198,229
-
Dividend income received
1,715,365
1,156,617
Proceeds realised on sale of subsidiary
-
9,053,275
Investment in property and equipments and intangible assets
(94,585,879)
(17,988,176)
Sale proceeds from disposal of property and equipments
279,777
168,370
Sale proceeds from disposal of ijarah assets
10,360
27,645
Effect of translation of net investment in overseas branches
1,059,096
(1,441,633)
Net cash flow used in investing activities
(2,667,958,842)
(1,959,972,262)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liability against right-of-use assets
(4,870,019)
(2,693,923)
Payment of sub ordinated debt
(1,998,400)
-
Dividend paid
(47,023,178)
(40,399,075)
Net cash flow used in financing activities
(53,891,597)
(43,092,998)
Increase / (decrease) in cash and cash equivalents
232,035,096
78,515,446
Cash and cash equivalents at the beginning of the period
367,534,705
309,638,228
Effect of exchange rate changes on cash and cash equivalents
2,179,452
(1,607,260)
369,714,157
308,030,968
Cash and cash equivalents at the end of the period
601,749,253
386,546,414
ANNEXURE B-1
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT SEPTEMBER 30, 2025
(Un-audited)
(Audited)
September 30, 2025
December 31, 2024
----------------- (Rupees in '000) -----------------
ASSETS
Cash and balances with treasury banks
531,920,576
310,836,376
Balances with other banks
70,760,528
59,968,246
Lendings to financial institutions
139,355,737
18,492,483
Investments
8,823,130,334
5,889,765,841
Advances
1,103,393,866
1,443,481,944
Property and equipment
111,180,606
85,591,999
Right-of-use assets
30,058,715
10,231,121
Intangible assets
64,199,450
2,792,016
Deferred tax assets
-
-
Other assets
407,407,805
247,937,251
11,281,407,617
8,069,097,277
LIABILITIES
Bills payable
32,655,154
44,221,818
Borrowings
5,724,114,144
4,855,373,516
Deposits and other accounts
4,768,330,238
2,639,875,985
Lease liabilities
32,819,151
12,381,018
Subordinated debt
10,000,000
10,000,000
Deferred tax liabilities
79,926,990
39,311,263
Other liabilities
183,093,736
147,125,664
10,830,939,413
7,748,289,264
NET ASSETS
450,468,204
320,808,013
REPRESENTED BY:
Share capital
12,521,239
12,241,797
Reserves
136,117,024
114,734,831
Surplus on revaluation of assets
139,656,101
77,309,424
Unappropriated profit
162,107,278
116,472,051
Total equity attributable to the equity holders of the Bank
450,401,642
320,758,103
Non-controlling interest
66,562
49,910
450,468,204
320,808,013
CONTINGENCIES AND COMMITMENTS
ANNEXURE B-2
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
July - September 2025
July - September 2024
January - September 2025
January - September 2024
----------------------------- (Rupees in '000) -----------------------------
Mark-up / return / interest earned
297,235,579
310,757,603
861,251,119
825,931,552
Mark-up / return / interest expensed
205,251,701
259,143,899
593,838,387
720,569,733
Net mark-up / interest income
91,983,878
51,613,704
267,412,732
105,361,819
Non-mark-up / interest income
Fee and commission income
7,793,913
6,478,039
24,282,106
17,594,243
Dividend income
287,126
266,556
1,651,515
1,135,079
Foreign exchange income
5,027,596
3,438,925
12,875,535
9,866,476
Loss from derivatives
(1,313)
(16,176)
(1,255,891)
(41,021)
Gain on securities - net
902,623
5,930,797
9,049,933
24,074,130
Capital gain on derecognition of financial assets measured at amortised cost
-
-
-
2,894,427
Other income
238,025
251,270
693,482
864,077
Total non-markup / interest income
14,247,970
16,349,411
47,296,680
56,387,411
Total income
106,231,848
67,963,115
314,709,412
161,749,230
Non-mark-up / interest expenses
Operating expenses
31,034,398
23,024,463
90,688,043
59,576,656
Workers' Welfare Fund
1,468,158
993,613
4,411,327
2,246,109
Other charges
45,124
155
47,618
32,966
Total non-mark-up / interest expenses
32,547,680
24,018,231
95,146,988
61,855,731
Share of profit / (loss) of associates
161,065
426,286
766,500
672,233
Profit before credit loss allowance from continuing operations
73,845,233
44,371,170
220,328,924
100,565,732
Credit loss allowance and write-offs - net
(822,101)
893,528
(4,711,348)
(1,473,236)
Profit before taxation from continuing operations
74,667,334
43,477,642
225,040,272
102,038,968
Taxation
39,304,932
24,747,107
124,945,657
53,249,350
Profit after taxation from continuing operations
35,362,402
18,730,535
100,094,615
48,789,618
Discontinued operation
(Loss) / gain from discontinued operation - net of tax
-
(409,151)
-
938,610
35,362,402
18,321,384
100,094,615
49,728,228
Attributable to:
Equity holders of the Bank
from continuing operations
35,355,263
18,728,087
100,077,963
48,780,590
from discontinued operation
-
(409,151)
-
332,118
35,355,263
18,318,936
100,077,963
49,112,708
Non-controlling interest
from continuing operations
7,139
2,448
16,652
9,028
from discontinued operation
-
-
-
606,492
7,139
2,448
16,652
615,520
35,362,402
18,321,384
100,094,615
49,728,228
--------------------------------------- (Rupees) ---------------------------------------
Earnings per share for profit from continuing operations
attributable to the equity holders of the Bank
Basic and diluted
14.12
7.65
40.19
19.92
Earnings per share for profit attributable to the equity
holders of the Bank
Basic and diluted
14.12
7.48
40.19
20.06
ANNEXURE B-3 (1 of 2)
CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
Share capital
Share Premium
Statutory Reserve
Capital Reserve - Exchange Translation
Surplus / (Deficit) on revaluation
Unappropriated Profit
Sub total
Non-controlling interest
Total
Investments
Property and Equipment
Non-banking Assets
---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------
Balance as at January 01, 2024 - as restated
12,241,797
-
46,878,123
69,893,293
(192,993)
41,795,310
-
96,024,872
266,640,402
14,904,379
281,544,781
Total comprehensive income for the nine months ended September 30, 2024
Profit after taxation for the nine months ended September 30, 2024
-
-
-
-
-
-
-
49,112,708
49,112,708
615,520
49,728,228
Other comprehensive income - net of tax
-
-
-
(10,412,070)
52,129,808
(61,237)
-
-
41,656,501
112,491
41,768,992
Total comprehensive income for the nine months ended September 30, 2024
-
-
-
(10,412,070)
52,129,808
(61,237)
-
49,112,708
90,769,209
728,011
91,497,220
Transfer from surplus on revaluation upon disposal to unappropriated profit - net of tax
-
-
-
-
-
(22,930)
-
22,930
-
-
-
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax
-
-
-
-
-
(63,841)
-
63,841
-
-
-
Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax
-
-
-
-
61,377
-
-
(61,377)
-
-
-
Transfer to statutory reserve
-
-
5,498,589
-
-
-
-
(5,498,589)
-
-
-
Derecognition of subsidiary
-
-
-
-
535,734
(3,492,963)
-
2,957,229
-
(15,590,116)
(15,590,116)
Transactions with owners for the nine months ended September 30, 2024, recorded directly in equity
Final cash dividend - December 31, 2023 declared subsequent to the year end at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
-
(13,465,977)
Interim cash dividend - March 31, 2024 declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
-
(13,465,977)
Interim cash dividend - June 30, 2024
declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
-
(13,465,977)
-
-
-
-
-
-
-
(40,397,931)
(40,397,931)
-
(40,397,931)
Balance as at September 30, 2024 (Un-audited)
12,241,797
-
52,376,712
59,481,223
52,533,926
38,154,339
-
102,223,683
317,011,680
42,274
317,053,954
Total comprehensive income for the three months ended December 31, 2024
Profit after taxation for the three months ended December 31, 2024
-
-
-
-
-
-
-
26,043,145
26,043,145
6,071
26,049,216
Other comprehensive income - net of tax
-
-
-
322,731
(13,665,969)
313,782
1,146
4,197,565
(8,830,745)
1,565
(8,829,180)
Total comprehensive income for the three months ended December 31, 2024
-
-
-
322,731
(13,665,969)
313,782
1,146
30,240,710
17,212,400
7,636
17,220,036
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax
-
-
-
-
-
(14,672)
-
14,672
-
-
-
Transfer of net gain on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax
-
-
-
-
(13,128)
-
-
13,128
-
-
-
Transfer to statutory reserve
-
-
2,554,165
-
-
-
-
(2,554,165)
-
-
-
Continued on next page
ANNEXURE B-3 (2 of 2)
CONSOLIDATED CONDENSED INTERIM STATEMENET OF CHANGES IN EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
Share capital
Share Premium
Statutory Reserve
Capital Reserve - Exchange Translation
Surplus / (Deficit) on revaluation
Unappropriated Profit
Sub total
Non-controlling interest
Total
Investments
Property and Equipment
Non-banking Assets
---------------------------------------------------------------- (Rupees in '000) ----------------------------------------------------------------
Transactions with owners for the three months ended December 31, 2024, recorded directly in equity
Interim cash dividend - September 30, 2024
declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
-
(13,465,977)
Balance as at January 01, 2025 (Audited)
12,241,797
-
54,930,877
59,803,954
38,854,829
38,453,449
1,146
116,472,051
320,758,103
49,910
320,808,013
Effect of remeasurement on adoption of IFRS 9 (net of tax)
-
-
-
-
1,355,745
-
-
-
1,355,745
-
1,355,745
Balance as at January 01, 2025 - as restated
12,241,797
-
54,930,877
59,803,954
40,210,574
38,453,449
1,146
116,472,051
322,133,848
49,910
322,163,758
Total comprehensive income for the nine months ended September 30, 2025
Profit after taxation for the nine months ended September 30, 2025
-
-
-
-
-
-
-
100,077,963
100,077,963
16,652
100,094,615
Other comprehensive income - net of tax
-
-
-
1,059,096
63,670,854
-
-
-
64,729,950
-
64,729,950
Total comprehensive income for the nine months ended September 30, 2025
-
-
-
1,059,096
63,670,854
-
-
100,077,963
164,807,913
16,652
164,824,565
Transfer of incremental depreciation from revaluation of property and equipment to unappropriated profit - net of tax
-
-
-
-
-
(52,082)
-
52,082
-
-
-
Transfer of net loss on disposal of FVOCI equity investments from surplus to unappropriated profit - net of tax
-
-
-
-
(2,627,840)
-
-
2,627,840
-
-
-
Transfer to statutory reserve
-
-
9,849,336
-
-
-
-
(9,849,336)
-
-
-
Shares issued under amalgamation
279,442
10,473,761
-
-
-
-
-
-
10,753,203
-
10,753,203
Transactions with owners, recorded directly in equity
Final cash dividend - December 31, 2024 declared subsequent to the year end at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,465,977)
(13,465,977)
-
(13,465,977)
Interim cash dividend - March 31, 2025 declared at Rs. 11.0 per share
-
-
-
-
-
-
-
(13,773,363)
(13,773,363)
-
(13,773,363)
Interim cash dividend - June 30, 2025 declared at Rs. 8.0 per share
-
-
-
-
-
-
-
(20,033,982)
(20,033,982)
-
(20,033,982)
-
-
-
-
-
-
-
(47,273,322)
(47,273,322)
-
(47,273,322)
Balance as at September 30, 2025 (Un-audited)
12,521,239
10,473,761
64,780,213
60,863,050
101,253,588
38,401,367
1,146
162,107,278
450,401,642
66,562
450,468,204
ANNEXURE B-4 (1 of 2)
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
January - September 2025
January - September 2024
----------------- (Rupees in '000) -----------------
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation including discontinued operations
225,040,272
103,711,492
Less: Dividend income
1,651,515
1,135,079
Less: Share of profit of associates
766,500
672,233
222,622,257
101,904,180
Adjustments:
Depreciation on property and equipment
6,602,878
4,097,614
Depreciation on Islamic financing against leased assets (ijarah)
102,050
58,652
Depreciation on right-of-use assets
3,074,120
1,820,179
Depreciation on non-banking assets acquired in satisfaction of claims
29,853
2,420
Amortisation
844,119
727,292
Workers' Welfare Fund - charge
4,411,327
2,246,109
Provision for retirement benefits
1,378,476
1,305,473
Provision for compensated absences
109,575
128,055
Credit loss allowance against loans and advances - net
(4,534,504)
(1,142,648)
Credit loss allowance against off - balance sheet obligations - net
198,026
46,676
Credit loss allowance for diminution in value of investments - net
65,525
(250,046)
Interest expense on lease liability against right-of-use assets
2,481,903
1,088,176
Loss / (gain) on sale of Ijarah assets - net
234
(533)
Gain on sale of property and equipments - net
(89,048)
(148,042)
Transfer of exchange translation reserve to profit and loss on derecognition of subsidiary
-
(8,706,711)
Bad debts written-off directly
58,036
36,211
Unrealised gain on revaluation of investments classified as FVTPL
(42,667)
(261,073)
Credit loss allowance against other assets
45,220
(11,149)
Other credit loss allowance / write-offs
183,670
161,798
14,918,793
1,198,453
237,541,050
103,102,633
(Increase) / decrease in operating assets
Lendings to financial institutions
(120,863,254)
37,356,267
Securities classified as FVTPL
(208,564,550)
3,202,339
Advances
345,360,053
(55,502,873)
Other assets (excluding advance taxation)
(215,587,050)
(34,917,450)
(199,654,801)
(49,861,717)
Increase / (decrease) in operating liabilities
Bills payable
(11,566,664)
2,116,644
Borrowings
868,740,628
1,482,063,705
Deposits and other accounts
2,128,454,253
532,711,096
Other liabilities
18,115,688
38,459,758
3,003,743,905
2,055,351,203
3,041,630,154
2,108,592,119
(Payments) / receipts on account of staff retirement benefits
628,529
2,742,669
Income taxes paid
(83,919,249)
(43,778,709)
Net cash flow generated from operating activities
2,958,339,434
2,067,556,079
Continued on next page
ANNEXURE B-4 (2 of 2)
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025
January - September 2025
January - September 2024
----------------- (Rupees in '000) -----------------
CASH FLOW FROM INVESTING ACTIVITIES
Net investments in securities classified as FVOCI
(2,380,475,512)
(1,977,409,691)
Net investments in amortized cost securities
(213,820,407)
38,842,560
Net investments in associates
(1,752,858)
(1,454,863)
Net cash inflow on amalgamation
15,198,229
-
Dividend income received
1,668,480
1,102,004
Proceeds realised on sale of subsidiary
-
9,053,275
Investment in property and equipments and intangible assets
(94,637,486)
(18,154,200)
Sale proceeds from disposal of property and equipments
283,496
168,370
Sale proceeds from disposal of ijarah assets
27,645
27,645
Effect of translation of net investment in overseas branches
1,059,096
(1,924,494)
Net cash flow used in investing activities
(2,672,449,317)
(1,949,749,394)
CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liability against right-of-use assets
(4,992,057)
(2,755,882)
Payment of subordinated debt
(1,998,400)
-
Dividend paid
(47,023,178)
(40,399,075)
Net cash flow used in financing activities
(54,013,635)
(43,154,957)
Increase in cash and cash equivalents
231,876,482
74,651,728
Cash and cash equivalents at the beginning of the period
368,625,170
312,294,647
Effect of exchange rate changes on cash and cash equivalents
2,179,452
(1,508,516)
370,804,622
310,786,131
Cash and cash equivalents of subsidiary at disposal date
-
1,796,950
Cash and cash equivalents at the end of the period
602,681,104
387,234,809
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